Data Traffic Drives Magyar Telekom Growth - CEO

Telco

Tibor Rékasi

A "dynamic expansion" of data traffic was the engine of growth for Magyar Telekom last year, CEO Tibor Rékasi told journalists on Friday, a day after the company released fourth-quarter earnings, state news wire MTI reports.

Mobile data traffic rose 34% and fixed-lined data traffic climbed 33% last year, Rékasi said. Average data consumption per mobile subscriber rose more than 20% to 11.7 GB, he added.

MTel added over 200,000 Gigabit access points to its network last year, bringing the total number of households that can use the superfast internet connection to more than 3.6m, he said. By 2027, that number will reach 4.5 million, he added.

MTel has committed to raising outdoor 5G coverage to 99% by 2026, he said.

MTel reported adjusted net earnings of HUF 93.6 bln for 2023. Its board is proposing shareholder remuneration up to HUF 65.6 bln, including a dividend payment of HUF 41.6 bln on last year's earnings and a share buyback up to HUF 24 bln.

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